Bulls' goal is to lock up Jimmy Butler, Mike Dunleavy

Monday brought the introduction of first-round pick Bobby Portis and news that Kirk Hinrich exercised his $2.85 million player option for 2015-16, meaning 40 percent of the Bulls' offseason moves are complete.

The rest of the to-do list involves re-signing restricted free agent Jimmy Butler, bidding hard to re-sign starting small forward Mike Dunleavy, and adding a guard with a salary-cap exception, likely the mini-midlevel for taxpaying teams.

The Bulls plan to be a luxury tax team for just the second time in franchise history. That's based on a maximum qualifying offer of five years, $90 million to Butler, who would really have to bet on himself to enter unrestricted free agency and the lucrative new financial landscape in 2016 infused by the league's new TV deal.

Butler took that route last October when he turned down the Bulls' four-year, $44 million extension offer and became an All-Star. To do so again, and in a more extreme fashion, Butler would have to sign a one-year qualifying offer just over $4 million.

The maximum qualifying offer prohibits Butler from signing an offer sheet from another team for less than three seasons. The Bulls, who have been given no indications Butler doesn't want to be back, would match any such offer sheet.

Thus, barring the extremely unlikely scenario of a sign-and-trade, Butler will be a Bull next season. It's merely a matter of whether he's playing on a one-year qualifying offer or signs a three-, four- or five-year max deal.

"The most important pieces of our summer are retaining the guys we have — Jimmy Butler, Mike Dunleavy. After that, there won't be a lot of flexibility," general manager Gar Forman said. "We'll have a spot or two to fill but not a lot of money to do anything on a major scale."

"Before you all even get started," Portis said, showing solid comedic timing, "I brought you all some doughnuts too."

Taking his rookie responsibilities to the...

When free agency begins at 11:01 p.m. Tuesday, the Bulls plan to be extremely competitive to retain Dunleavy, who turned down more lucrative offers in signing a two-year, $6.5 million deal in July 2013. He found a comfort level personally and professionally in Chicago.

"I love being here and would love to be back," said Dunleavy, who has spent time at the Bulls' practice facility. "Re-signing is a priority."

The Bulls are confident they can re-sign Dunleavy. If the market turns too rich or Dunleavy opts to sign elsewhere, former Bull Marco Belinelli is a backup target, sources said.

Rodney Stuckey, Gary Neal, Mo Williams, J.J. Barea and Jeremy Lin are some of the many guards on the Bulls' free-agent list, sources said. The market for Stuckey and Williams certainly could be too lucrative, but both will be explored.

Photos of Bobby Portis, the Bulls' top pick (No. 22) in the 2015 draft.

Hinrich, who was executive vice president John Paxson's first draft pick in 2003, is back for a 13th NBA season.

"We're happy that Kirk picked up his option," Forman said. "We think he's a very valuable piece, has been in the past. We feel that way and (coach) Fred (Hoiberg) feels that way moving forward."

Hoiberg is still deciding about serving as head coach for summer league, a rarity but something first-year coach Steve Kerr did last summer for the Warriors. One possibility is Hoiberg coaching the first two games and then ceding to a more observatory role.